Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The governance of the team will remain unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."
Financial Growth
The deal would represent a substantial rise in value of Mercedes F1 after Ineos bought its share for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Present Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
